WEX Inc (WEX US, +1, 03-Jun-25)
Melissa Smith (Chair, President & CEO since 2019, joined 1997) purchased slightly more than $500,000 worth of stock on May 29th at $134.57, increasing her ownership by 2%. This buy stands out both for its size and rarity: it is her first stock purchase since October 2008 and by far the largest. Her largest previous buy was for only $50,000 in February 2008 at $29.
Moreover, this is a reversal from a long series of sales, most recently at $222 in February 2024. Smith also serves as a board member at Equifax (EFX) and timed her only two purchases there perfectly. Impactive Capital (7% shareholders) has highlighted in their May 23, 2025, 13D/A filing their intention to nominate at least 4 directors at the 2026 AGM unless the Issuer reverses its underperformance and approach to engagement. Their first 13D was filed in December 2022, showing ownership of 2.2m shares (5% of the company) at an average cost of $171 per share.
It’s encouraging to see a long-serving key executive officer making the largest purchase to date, and at the highest price on record. Notably, it marks the 2nd largest investment by any insider since the company’s listing in 2005.
We are ranking the stock +1 (strongly positive signal).
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